The United States cryptocurrency regulatory landscape faces another significant delay as Senate Republican Leader John Thune indicated the crucial crypto market structure bill, known as the CLARITY Act, will not advance through the Senate Banking Committee before April. This development represents a substantial setback for legislative efforts to establish comprehensive digital asset regulations.
Senator John Thune, the Senate’s second-ranking Republican, delivered the timeline assessment to reporters following a committee session. According to a report by Punchbowl News, Thune stated, "Market structure is a bill that's, I'm hoping, going to come out of the Banking Committee soon, probably not before, I would say, the April time period." This timeline contradicts earlier optimism from Ohio Senator Bernie Moreno, who in February hoped the bill would pass through Congress by April.
The delay is attributed to the Senate's need to prioritize other legislation, specifically the SAVE America Act, which requires voters to provide proof of US citizenship. Thune noted that lawmakers would focus on the crypto market structure bill and other bipartisan bills only after that vote.
The CLARITY Act, formally titled the Crypto-Asset Legislation for American Innovation and Technology Yield Act, aims to create a comprehensive regulatory framework. A key provision is expected to grant the U.S. Commodity Futures Trading Commission (CFTC) more authority in overseeing digital assets. However, the bill has faced significant hurdles within the Senate Banking Committee, which postponed a necessary markup session in January. Lawmakers remain at odds over contentious provisions, including tokenized equities, ethics rules, and stablecoin yield.
This legislative impasse follows nearly three years of efforts to establish clear crypto rules, with previous attempts like the Responsible Financial Innovation Act (2023) and the Digital Commodities Consumer Protection Act (2024) also stalling. Experts warn that the continued uncertainty challenges businesses making long-term investment decisions and may slow innovation.
In a related development, the Senate voted to include an amendment in a housing bill that would prohibit the U.S. Federal Reserve from issuing a central bank digital currency (CBDC) until December 2030.
